Allowed

Bank of India v. Ravindra

DRT7 Feb 2025OA/410/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal allowed a bank's application under Section 19 of Recovery of Debts and Bankruptcy Act to recover dues of nearly Rs. 49.35 lakhs against a defaulting doctor-proprietor of a dental hospital granted a cash credit and term loan but who failed to liquidate outstanding dues. Issue of Recovery Certificate and injunction. (Seventeen words) of space used

What did the court decide?

Order for payment of Rs. 49,35,381.51 with interest at 9.95% p.a., injunction restraining the respondent from dealing with his assets, and issuance of Recovery Certificate under Section 19(2)(b) of RD

Bank of India versus Ravindra — Specific Performance | DRT (2025)

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DEBTS RECOVERY TRIBUNAL : JABALPUR

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(for the States of Madhya Pradesh and Chhattisgarh)

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(Presiding Officer - Hon'bte Shri Ram Niwas Patet)

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Original Application No, - 410123

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Bank of lndia, Durg (C.G.)

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AppIicant

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Versus

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Dr. Ravindra Kumar Chandakar, Proprietor of Patni DentaI Hospitat, Medical Comptex, Green Chowk, Durg (C.G,)

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Defendant

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Counsel for the Applicant Shri Shreyas Dubey, Advocate Defendant Ex-parte

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JUDGMENT 1^{oated : o Trreb} ru a ry, 2o 25)

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The Applicant-Bank has fited the present Original Apptication u/s 19 of Recovery of Debts and Bankruptcy Act on 28103123 against the Defendant for recovery of Rs. 49,35,381 .51 (Rupees Fourty Nine Lakh, Thirty Five Thousand, Three Hundred Eighty One and Paisa Fifty One onl.y) along with interest and other retiefs as stated.

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2, The brief facts of the case are that on the request^of Defendant, the Appticant Bank sanctioned Cash Credit Limit of^{Rs. 20 Lakh} and Term Loan of Rs. 18 Lakh aggregating s. 38 Lakh and^{in consjderationof} the same the Defendant executed requisite loan documents,^TheDefendant avaited the credit faciLities and also executed Letter of^{Acknowtedgment of} Debts/Securities on 03/07 170 but faited to liquidate the^{outstanding dues} despite issuance of Notice dated 02l11/19 uls^{13(2) of the SecuritisationAct} by the Appticant Bank. The Appticant-Bank has retied upon^{the documentsat} Ex. A-1 to A-'12 which were proved by Shri Sunit Kispotta, Chief^Manager.

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Despite service of notice, the Defendants^{neitherappeared nor} fited written statement. They were^proceeded ex-parte^{vide order dated} OZIOT t24. There is therefore, no reason to disbelieve^{the contentionsof the} Bank. Considering the facts of the case, I opine that the^{Defendantsare} jointty and severally liabte to pay the ctaim amount together with interest and costs. The Applicant'Bank in its apptication^{has c[[email protected]%} p. a. with monthty rests However, I feet it fair and reasonable to^grant

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oA,410t21

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interest @9.95% p.a. simpte pendentelite and future titI reatization of the dues. The persona[ properties and assets of the Defendants are liable to be sold for recovery of amount due.

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The Original Application is atlowed and it is ordered as under-

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i) The Defendants do pay jointty and severatly Rs. 49,35,381.51 (Rupees Fourty Nine Lakh, Thirty Five Thousand, Three Hundred Eighty One and Paisa Fifty One only) together with pendentelite and future interest @9.95%^per annum simpte from the date of fiting of the OA, i.e., 28103/23, with costs titl its reatization.

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ii) The Appticant Bank is entitted to setl the personal properties and assets of the Defendants for realization of its dues. The Defendants are hereby restrained by means of injunction from depteting, transferring, encumbering, atienating or in any way deat.ing with their properties/ assets without first paying the ctaim of the Appticant Bank.

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iii) A Recovery Certificate be issued u/s 19 (22) of Recovery of Debts and Bankruptcy Act. The appticant bank may fite a memo of cost within 7 days for preparing Recovery Certificate,

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Judgment pronounced in the open court on this 07th Day of February, 7025

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7', (Ram Niwas Patel) Presidins Oifi cer

Bank of India v. Ravindra

Case brief

What is this about?

What did the court decide?

Bank of India v. Ravindra

Case brief

What is this about?

What did the court decide?

What the court decided

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